The price of gold reached a record $3356 per ounce: what to expect for investors in 2025

The price of gold has stabilized after several months of active growth. Gold bullion costs $3356.88 per ounce, while investments in stocks of this metal have lost popularity.

Analysts at Citigroup raised their price forecast for gold for the next three months from $3300 to $3500 per ounce. They also expanded the expected price range for gold from $3100-3500 to $3300-3600, Reuters reports.

'Concerns about economic growth in the U.S. and inflation related to tariffs remain quite serious in the second half of 2025. Together with the decline in the value of the dollar, this will contribute to moderate price growth for gold and the achievement of new records,' Citigroup said.

According to analysts' estimates, demand for gold has grown by more than a third since mid-2022, and by the second quarter of 2025, prices have nearly doubled.

The increase in demand for gold has been caused by several factors: increased investment demand, moderate purchases by central banks, and stable demand for jewelry despite high prices.

The role of tariffs in gold price growth

One of the factors behind the summer rise in the price of gold was the introduction by Donald Trump of some of the highest trade tariffs since the 1930s, which increased demand for safe-haven assets.

Gold has always been considered a safe-haven asset during times of political and economic uncertainty, so its value traditionally rises in low-interest rate environments.

Investors and experts expect further price increases for gold due to the continued uncertainty factors in the U.S. economy.

In the next three months, moderate price growth for gold is predicted, thanks to uncertainty in the American economy and other geopolitical factors. Analysis shows that demand for the precious metal is growing, which affects the price dynamics.